Nokia Reports $162 million Profit On $7.79 Billion Revenue In Q3 2013

Nokia today reported its Q3 2013 financial statement. The report was largely positive for Nokia group with $162 million profit from $7.79 billion revenue. $162 million profit may not sound huge, but its a huge improvement from last year same quarter when Nokia group reported a loss of €564 million. We just posted aboutthe Lumia sales volumes here, Nokia sold about 8.8 million Lumias up from 7.4 million last quarter. Devices & Services Q3 net sales increased 6% quarter-on-quarter to EUR 2.9 billion, but it made a loss of about $160 million.

Overall, Nokia is in strong cash position than last few years. With the proposed sales of Devices and Services unit to Microsoft, Nokia group will be able to achieve higher profitability from NSN, HERE and others in the upcoming quarters.